The index was bullish since the market opened on Friday. Market analysts unanimously agreed that the Sensex and Nifty showed relief, largely influenced by the country's political scenario.
Mumbai: As soon as Narendra Modi's return to power is confirmed, the stock market showed signs of relief. The share index turned green on 'Black Friday,' overcoming the inauspiciousness associated with Tuesday. Even though the BJP did not reach the magic number, the NDA alliance remains strong. This clarity brought a surge in the stock market. The Sensex rose by more than 1700 points overnight, resulting in an increase of seven and a half lakh crores in market assets.
Investors were optimistic about Friday after the both indexes rose slowly on Wednesday and Thursday. On Tuesday, as the results of the Lok Sabha elections started to be declared, the stock market collapsed, causing concern among investors. However, the situation improved by Wednesday morning as it became clear that the BJP, even without a majority, would form the government again. Narendra Modi is set to become Prime Minister for the third time with alliance partners. Following this, the index began to rise, and the stock market rebounded.
The index was bullish since the market opened on Friday. Market analysts unanimously agreed that the Sensex and Nifty showed relief, largely influenced by the country's political scenario. If the NDA government is confirmed for the third time today, the stock market will likely continue to rise. The index touched a record high of 76,795.31 points at one point but later fell slightly to close at 76,693.36 points. On the other hand, the Nifty rose by 468 points, closing at 23,290.15 points at the end of the day.
Mumbai: As soon as Narendra Modi's return to power is confirmed, the stock market showed signs of relief. The share index turned green on 'Black Friday,' overcoming the inauspiciousness associated with Tuesday. Even though the BJP did not reach the magic number, the NDA alliance remains strong. This clarity brought a surge in the stock market. The Sensex rose by more than 1700 points overnight, resulting in an increase of seven and a half lakh crores in market assets.
Investors were optimistic about Friday after the both indexes rose slowly on Wednesday and Thursday. On Tuesday, as the results of the Lok Sabha elections started to be declared, the stock market collapsed, causing concern among investors. However, the situation improved by Wednesday morning as it became clear that the BJP, even without a majority, would form the government again. Narendra Modi is set to become Prime Minister for the third time with alliance partners. Following this, the index began to rise, and the stock market rebounded.
The index was bullish since the market opened on Friday. Market analysts unanimously agreed that the Sensex and Nifty showed relief, largely influenced by the country's political scenario. If the NDA government is confirmed for the third time today, the stock market will likely continue to rise. The index touched a record high of 76,795.31 points at one point but later fell slightly to close at 76,693.36 points. On the other hand, the Nifty rose by 468 points, closing at 23,290.15 points at the end of the day.
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